Diodes (NASDAQ:DIOD) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Diodes (NASDAQ:DIOD - Free Report) from a hold rating to a buy rating in a report released on Friday.

Other analysts have also issued research reports about the company. Baird R W raised Diodes from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 7th. Robert W. Baird raised Diodes from a "neutral" rating to an "outperform" rating and set a $50.00 price objective on the stock in a research note on Monday, April 7th. Finally, Benchmark reissued a "buy" rating and issued a $62.00 price target (up from $55.00) on shares of Diodes in a research note on Friday, June 13th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $55.00.

Diodes Price Performance

Shares of DIOD stock traded down $0.47 during mid-day trading on Friday, reaching $54.98. The stock had a trading volume of 304,397 shares, compared to its average volume of 451,693. Diodes has a 12-month low of $32.93 and a 12-month high of $84.03. The company has a market cap of $2.55 billion, a P/E ratio of 99.96 and a beta of 1.46. The business has a 50-day simple moving average of $50.94 and a 200 day simple moving average of $49.55. The company has a current ratio of 3.43, a quick ratio of 2.11 and a debt-to-equity ratio of 0.01.

Diodes (NASDAQ:DIOD - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The semiconductor company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. Diodes had a return on equity of 3.04% and a net margin of 1.90%. The business had revenue of $332.11 million during the quarter, compared to analysts' expectations of $323.28 million. During the same quarter last year, the business posted $0.28 earnings per share. The business's revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts anticipate that Diodes will post 1.82 earnings per share for the current year.

Diodes announced that its Board of Directors has initiated a share repurchase program on Thursday, May 8th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the semiconductor company to purchase up to 5.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Institutional Trading of Diodes

A number of hedge funds have recently added to or reduced their stakes in the business. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Diodes by 283.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 544 shares of the semiconductor company's stock valued at $29,000 after purchasing an additional 402 shares in the last quarter. Signaturefd LLC lifted its stake in shares of Diodes by 170.1% in the 1st quarter. Signaturefd LLC now owns 597 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 376 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Diodes by 85.8% in the 2nd quarter. Fifth Third Bancorp now owns 628 shares of the semiconductor company's stock valued at $33,000 after purchasing an additional 290 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Diodes by 52.0% in the 2nd quarter. Parallel Advisors LLC now owns 757 shares of the semiconductor company's stock valued at $40,000 after purchasing an additional 259 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Diodes in the 4th quarter valued at about $79,000. 99.23% of the stock is owned by institutional investors and hedge funds.

Diodes Company Profile

Diodes Incorporated, together with its subsidiaries, manufactures and supplies application-specific standard products in the broad discrete, logic, analog, and mixed-signal semiconductor markets worldwide. The company offers discrete semiconductor products, such as MOSFETs, SiC MOSFETs; data line protection, power line protection, thyristers, USB Type-C protection, and transient voltage suppressors; Schottky, small signal switching, Zener, and SiC diodes; bridges, super barrier, Schottky, Schottky bridge, and fast/ultra-fast rectifiers; and bipolar, avalanche, gate driver, and pre-bias transistors.